It is now trading below $1,900, but it is one of the highest values in weeks.
For its part, Bitcoin missed the $24,000 line, although it is moving away from the minimums at which it had been trading.
What will happen to Ethereum?
Ansgar Dietrichs, a researcher at the Ethereum Foundation, said in a tweet that the most relevant metric for success when it comes to a test like this is looking at time to completion. He called it “another successful test.”
The merger of Ethereum (known in English as The Merge) with the Proof-of-Stake (PoS) consensus algorithm will take place on September 19, 2022. With the merger, the developers want to make the network more energy efficient.
Until now, Ethereum relied on PoW to confirm transactions and add new blocks to the chain. The problem with PoW is its high power consumption. In Proof of Stake there are no miners, there are validators.
In the case of Ethereum, validators have to acquire 32 ETH to participate in the verification process, confirm the block and receive the reward.
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Source: Ambito
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